...Federal Bank Limited (NSE: FEDERALBNK, BSE: 500469, LSE: FEDS) is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. It is the fourth largest bank in India in terms of capital base.[1] As of 18 April 2013, Federal Bank has 1124 branches spread across 24 states in India and 1272 ATMs around the country (across 108 metro centres, 224 urban centres, 384 semi-urban locations and 87 rural areas). Federal Bank opened its 1000th branch at Muthoor, Thiruvalla in Kerala on 17 August 2012,[2] and is planning to hire 2000 professionals by September 2012.[3][4] The Bank would be the first Bank from Kerala to cross the milestone of 1000 branch network. Contents [hide] * 1 History * 2 Acquisitions and Mergers * 3 Sponsorships * 4 References * 5 External links ------------------------------------------------- History[edit] In the year 1931, Travancore Federal Bank was inaugurated at Pattamukkil Varattisseril at Nedumpuram, near Thiruvalla, Kerala. The 14 founders included Sri.Pattamukkil Varattisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, Oommen George and also another person from Thiruvalla, Kavumbhagam Mundapallil Lukose, and others. Oommen Varghese was the Chairman and Oommen Chacko the Manager. After it had functioned for nearly 10 years, the bank's day to day transaction had to be stopped due to the ill-health of the Manager. Understanding this situation, a lawyer from Perumbavoor named Sri K.P...
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...We have to create a number of different solutions that help play a key role in building proper business ethics from employees, shareholders, board of directors, the CEO and the American people. I feel that all businesses need to promote accountability, transparency, and compliance, corporate governance systems and rely heavily on “gatekeepers”—corporate directors, in-house and outside counsel, and internal and external auditors. We need to revolutionize and rebuild trust and confidence again in the business world. Confidence in the character of the business world will enhance predictability, reliability, dependability, integrity, and regularity. Trust will give the business world a form of freedom. It will allow the business world to explore new directions, possibilities, and alternatives. Although trust always has its limits and always involves risk, trust frees the business institution from the need to continuously recheck, rethink, and reanalyze every decision and action they make. But we still need to have “gatekeepers” to keep executives from committing fraud again. Savings & Loan Scandal There have been many disappointments in my lifetime and that’s just in the past 30 years where the government has had to step in and provided some assistance at the expense of the American people. We can go back to the early 80’s when all the Savings & Loans went belly up and the government had to interfere and bail out all of them. The government spent billions of dollars to clean...
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...discussion on the 1980s concurrent crisis in the savings and loan (S&L) industry even though it was stated that Salinas has bucked the trend of financial problems during this period. A review of the S&L debacle (as it is commonly known today) provides several important lessons for financial-institution regulators. Moreover, legislation enacted in response to the crisis substantially reformed both bank and thrift regulation and dramatically altered the FDIC’s operations. The causes of this debacle and the events surrounding its resolution have been documented and analysed in great detail by academics, governmental bodies, former bank and thrift regulators, and journalists. Although the FDIC had a role in monitoring events as they unfolded and, indeed, played an important part in the eventual cleanup, until 1989 S&Ls were regulated by the Federal Home Loan Bank Board (FHLBB, or Bank Board) and insured by the Federal Savings and Loan Insurance Corporation (FSLIC) within a legislative and historical framework separate from the one that surrounded commercial banks. . The causes can be named as follows by the FDIC government: 1. Tax Reform Act of 1986 2. The deregulation of S&Ls in 1980 3. End of inflation 4. Forbearance III. Analysis of Facts...
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...Dear hiring agent: I want to express my interest into the Market Development Manager Position. I have a background in successful sales and marketing programs. I am familiar with the retail industry where I was brought into leadership roles. I am seeking to align myself with a progressive company poised for strong growth and market expansion. With extensive experience working with talented sales teams, meeting aggressive revenue targets, and delivering first-class sales solutions, I am confident that I can help your company meet aggressive goals as well. Capitalizing on my success at Federal Home Loan Bank, I am seeking a professional opportunity to leverage my exceptional sales record and proven account management skills to benefit your company as well as your clients. With the practical experience and demonstrated success, I have the drive and talent to quickly become a top performer within your organization. With this goal in mind, I have attached a resume outlining my qualifications. Some of my key strengths and accomplishments include: • A proven performer with a track record of outperforming sales goals, delivering high levels of customer service, and achieving successful sales results. • Ability to quickly cultivate relationships with very difficult to access, influential decision makers. • Proactively approach account and business challenges applying problem-solving skills, persistence, teamwork and resourcefulness to achieve positive results. Given my sales...
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...control of Lincoln, Keating replaced the management team; began accepting large deposits from money brokers, which allowed him to nearly triple the size of the savings and loan in two years; and shifted the focus of Lincoln's lending activity from residential mortgage loans to land development projects. On 14 April 1989, the Federal Home Loan Bank Board (FFILBB) seized control of Lincoln Savings and Loan, alleging that Lincoln was dissipating its assets by operating in an unsafe and unsound manner. On that date, Lincoln's balance sheet reported total assets of $5.3 billion, only 2.3 percent of which were investments in residential mortgage loans. Nearly two-thirds of Lincoln's asset portfolio was invested directly or indirectly in high-risk land ventures and other commercial development projects. At the time, federal authorities estimated that the closure of Lincoln Savings and Loan would cost U.S. taxpayers at least $2.5 billion. Congressional hearings into the collapse of Lincoln Savings and Loan initially focused on the methods Keating used to circumvent banking laws and on disclosures that five U.S. senators intervened on Keating's behalf with federal banking regulators. Eventually, the...
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...Term Paper on: The Federal Home Loan Bank System Abstract The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility that currently has more than $1 trillion in secured loans outstanding, mostly to commercial banks and thrifts. In this paper, we document the significant role played by the FHLB System at the onset of the ongoing financial crises and then provide evidence on the uses of these funds by the System’s bank and thrift members. Next, we identify the trade-offs faced by member-borrowers when choosing between accessing the FHLB System or the Federal Reserve’s Discount Window during the crisis period. We conclude by describing the fragmented U.S. lender-of-last-resort framework and finding that additional clarity about the respective roles of the various liquidity facilities would be helpful. Key words: Federal Home Loan Bank, government-sponsored enterprise, lender of last resort, liquidity Table of Contents Introduction The Federal Home Loan Bank System The Role of FHLB Advances during the 2007 Liquidity Crisis Aggregate Balance Sheets Regression Analysis Crisis-Related Lending by the Federal Reserve and the FHLB System Conclusion References Introduction In July 2007, the credit rating agencies (Standard & Poors, Moody’s, and Fitch) responded to the rapid deterioration in the performance of recently originated subprime mortgages by taking a ...
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...Suppose that the FOMC issues a new Directive to the Trading Desk at the Federal Reserve Bank of New York specifying a new federal funds rate target of 2.25 percent. What policy action should the Trading Desk implement to comply with the new FOMC Directive? a. At the conclusion of each FOMC meeting, the Committee issues a statement that includes the federal funds rate target, an explanation of the decision, and the vote tally, including the names of the voters and the preferred action of those who dissented. To implement the policy action, the Committee issues a directive to the New York Fed’s Domestic Trading Desk that guides the implementation of the Committee’s policy through open market operations. Before conducting open market operations, the staff at the Federal Reserve Bank of New York collects and analyzes data and talks to banks and others to estimate the amount of bank reserves to be added or drained that day. They then confer with Fed officials in Washington who do their own daily analysis and reach a consensus about the size and terms of the operations. Then, a New York Fed official sends a message to the primary dealers to indicate the Fed’s intention to buy or sell securities, and the dealers submit bids or offers as appropriate. 2. Explain the adjustments that will take place in the above diagram following the policy action you identified in part (a). b. The Federal Reserve bank would need to account for less reserves but add onto the percentage...
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...Glass Ceiling The glass ceiling is encountered by women in the workforce every day. Women face a barrier separating them from advancing in the work place and gaining equal pay as men. “Yellen punches through 'glass ceiling' at Fed,” describes the monumental advance and breakthrough of the glass ceiling for Janet Yellen, now the first woman to ever lead the Federal Reserve. She has made great strides throughout her life, “Yellen served as president of the San Francisco Federal Reserve Bank. She also had served a stint on the Fed's board in the 1990s and was a top economic adviser to President Bill Clinton”(Ferraro). She is working to show other woman that it is possible to climb to the top. The glass ceiling is an invisible barrier that separates women and minorities from advancing into top management positions(Kinicki 32). It is a serious issue in the work force because there needs to be diversity and fairness for all employees. Women are often deterred from trying to obtain top-management positions in fear that they will be denied for not being male. Yellen stated that “I don't feel that I've faced discrimination. I've had every chance to succeed and more, and I think that's what all women should have." She is lucky to have every opportunity arise in her life and has been able to push forward through the glass ceiling for herself. She is the proof to all other women that is it possible and that they cannot give up in fear of being discriminated against. Women deserve the same...
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...Module 4 Review Guide The sum of the production of goods and the supply of services in a given country is defined by the country's Gross National Product, or GNP. Many factors can affect the gross national product. Here are five major ones: 1. Population expansion or contraction - population growth can increase both GNP and per capita GNP. 2. Entrepreneurism - all the inventions associated with computers and other technological developments, have fueled a huge expansion in the GNP. 3. Trade – global trading increases GNP 4. War - Wars such as World War II destroyed much of Europe's economic infrastructure and drove down the GNP of the countries involved. However, for countries like the U.S. and much of Western Europe, which today supply military arms, war can have a positive effect on the GNP. 5. Natural Resources - The discovery of oil is a classic case of natural resources driving up the GNP of a region such as the Middle-East. Similarly, in rain forests around the world, harvesting trees has had a positive impact on the GNP. A business cycle is similar to the movement of a roller coaster. The four phases of the business cycle are (1) expansion, like the upward climb of the roller coaster. During the expansion phase, Gross Domestic Product, or GDP, is increasing. Usually, this also means that the rate of inflation is increasing while the unemployment rate is decreasing. The momentary pause at the summit is the (2) peak, where production reaches the highest current level. This...
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...the Federal Reserve needs to be put into congresses hands, audited, and ultimately abolished. Many U.S citizens do not pay attention to the economy. Many citizens just go about life wondering about why they have financial issues; people go straight to the president of the United States to blame. People never think of the big picture, yes the United States is in a ton of debt, but why? Moreover, how did the debt even start? That should be the question people need to be asking; instead of pointing fingers on a situation that the people know so little about. It all begins at the Federal Reserve, as Ron Paul said “To understand what is wrong with the Federal Reserve one must know the nature of money.” Background Few may ask, what is the Federal Reserve? Created in Dec. 23, 1913, the Federal Reserve, also known as the “FED” is the central banking system of the United States. Due to the financial panic in 1907, also known as the 1907 Bankers Panic, there was a huge financial scare for the U.S economy. The New York Stock Exchange fell about 50 percent from its peak in 1906, the following year the big panic arose. The economy fell dramatically and spread throughout the nation causing many banks to claim bankruptcy. Without a central bank to liquefy the market, many wealthy people including J.P Morgan, put large sums of their own money in the market, keeping the economy from going under. The following year, the Congress issued an Act called the, Federal Reserve Act. The Federal Reserve...
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...The Federal Reserve University of Phoenix The Federal Reserve The Federal Reserve System is the central bank of the United States. The purpose of the Fed is to control the United States economy by implementing policies to regulate interest rates and the money supply. To understand better how the Fed system works, we have to understand the purpose of money and its function, and explained how the central bank manages the monetary system. Summarize the stated direction of recent monetary policy to realize why the fed makes such decisions as well as list at least one policy that the Fed took to confirm that direction, and as a final point explain the impact of monetary policies on economic production and employment. “Money is the set of assets in the economy that people use to buy goods and services from other people” (Mankiw,). Money includes currency, paper bills, coins, and any of those accepted by sellers in exchange of goods or services. Money has three main functions. The first function is as medium of exchange, buyer use money in exchange for goods or services. Second, money as a unit of account, people use it to post prices and record debts. Finally, money as a store of value, people can use money to transfer purchasing power from the present to the future. Money is administered by the government through the Federal Reserve who acts as the central bank of the nation’s monetary system. The central bank is an institution designed to supervise the banking system, and...
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...material Chapter 13 To start a bank, one needs permission in the form of a bank charter. What is a unit bank? Banks without branches; banking carried on by individual banks without branches or corporate relationships with other banks. Developed because agricultural society had no need for multiple banks. Federal government left banking to individual states and issued their own money. Didn’t want a strong central government or strong central bank. What is dual banking system? A system where state banks and national banks are regulated at different levels. National banks are chartered and regulated under federal law and standards, and supervised by a federal agency. What are bank holding companies? Created because of banks reaction to branching restrictions. These are corporations that own a group of other firms. Can be thought of as a parent firm for a group of subsidiaries. Initially these were created as a way to provide nonbank financial services in more than one state. IN 1956, act passed to allow these companies to provide various nonbank financial services. A bank holding company can purchase a controlling interest in a foreign bank. Simply a bank that holds controlling interest in other banks but are not necessarily involved in the banks activities. What is a financial holding company? Created by an act in 1999, it allowed a commercial bank, investment bank, and insurance company to merge and form this type of holding company which many bank holding companies are now converting...
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...What is the Federal Reserve? The Federal Reserve is the main bank of the United States government. The Federal Reserve is also the same bank that governs all other banking institutions in the United States. The Federal Reserve consists of 12 banking districts and is run by a Board of Governors. The Federal Reserve bank was created by the United States Congress in December of 1913. The Federal Reserve has some very important responsibilities which include adjusting monetary policy, price stabilization, monitoring and controlling inflation, and maintaining low interest rates to encourage economic growth. Aside from these very important responsibilities the Federal Reserve also acts as a financial institution for the United States government as well as central banks to foreign countries. The Federal Reserve is also responsible for ensuring adequate research is conducted on both the United States economy as well as the individual regions within the United States. They also take up the responsibility of educating people on what they do and how they do it through many different channels of media, such as: speeches, publications, web sites, and educational seminars. What are the factors that would influence the Federal Reserve in adjusting the discount rate? When it comes to the Federal Reserve adjusting the discount rate there are a few factors that play an influential role. The current state of the economy and the direction that the economy is moving are the...
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...1. | Banks can borrow money from what sources? I. other banks II. the Fed's discount window II. ATM machines | | A. | I only | B. | II only | C. | III only | D. | I and II only | | Correct | Points Earned: | 1/1 | Your Response: | D | 2. | For a given money multiplier, a decrease in the banking system's reserves will cause the money supply to: | | A. | increase. | B. | decrease. | C. | remain constant. | D. | become difficult to predict. | | Incorrect | Points Earned: | 0/1 | Your Response: | A | 3. | When the Fed wants to increase interest rates, it: | | A. | instructs banks across the nation that they must raise their rates. | B. | sells bonds in the open market. | C. | buys bonds in the open market. | D. | adjusts the fractional reserve ratio. | | Correct | Points Earned: | 1/1 | Your Response: | B | 4. | Which of the following are the least liquid assets? | | A. | currencies | B. | checkable deposits | C. | small-time deposits | D. | savings deposits | | Incorrect | Points Earned: | 0/1 | Your Response: | B | 5. | If the Fed buys bonds in the open market: I. investment spending will increase. II. short-term interest rates will increase. III. inflation will increase. | | A. | I and II only | B. | II and III only | C. | I and III only | D. | I, II, and III | | Incorrect | Points Earned: | 0/1 | Your Response: | B | 6. | A bank will become illiquid if:...
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...The Federal Reserve System of the U.S. Origin The central banking system of the U.S., the Federal Reserve, was established on December 23, 1913 by the Federal Reserve Act of 1913. Prior to that date, the only official representative of the U.S. Treasury were the First Bank (1791-1811) and Second Bank (1816-1836). They were the sole source to issue and back official U.S. money. All other banks were either state or private organized with their own banknotes. As longs as money was deposited and withdrawn from the same financial institution there was no financial loss. But if depositors withdraw their money from a different bank, they never knew exactly what they would receive. As the U.S. grew in both people and economic and people were able to move more freely, a need for a more standardized banking system become necessary. In 1863, The National Bank Act was passed by Congress. Its purpose was to provide a supervised system of National Banks. These banks were to standardize banking operations, establish minimum capital to be held by banks and how loans were to be administered. They also mandated a 10% tax on banknotes owned by other banks. This eventually eliminated all other banknotes. After a severe financial panic in 1907 concerning Wall Street, many Americans felt that their banking structure was out of date and needed reform. In 1912, hearings were held to examine the U.S. banking system. The committee concluded that the U.S banking and financial system...
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